My mid-week update last Thursday announced I was actively
searching the market place in an effort to secure $5,000,000 to start "tomorrow"
the construction of the Watson House. I’m very pleased to announce I have
obtained a commitment from a private capital group to fund $1,500,000 of the required
amount, if I can successfully secure the balance in a reasonable amount of time. If
you know anyone who has a couple of million they would consider investing,
please don’t hesitate to get in touch. We’re 30% closer to our goal!
Another interesting proposal that I began negotiating about a
year ago has also surfaced and I need your advice! A group of investors who
were very impressed with the master plan developed for Wyndholme Village, asked me if I
would consider developing a similar program for a large tract of land they controlled
about 90 miles north of Chicago. In November, I had the opportunity to physically
view the site. To say it was a fantastic site is an understatement.
In addition to being located within 15 minutes of 2 PGA golf courses, the property
boasts 2/3 of a mile of white sand beach on Lake Michigan.
This past weekend, I received a call from a member of the
group with an interesting proposal. They would consider becoming a partner in
Wyndholme Village and providing the capital necessary to proceed, if I would commit to
becoming a partner in this Wisconsin property.
In order to consider this offer, I need your help.
Is there a market for a community like Wyndholme in the Midwest? Your
thoughts and comments would be very much appreciated. Please fax them directly to me
at 410-644-5165.
Next Monday I’ll update you on both issues.
As you can see, there is always a silver lining in those storm clouds. Your
opinions and advice are always welcome.
Sincerely,
James M. Lancelotta
Managing Partner
Wyndholme Village, LLC
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